For you long time readers of Dual Income No Kids, you’ve probably realized that this blog has turned into a small business. So, we wanted to give our readers some insight into the profitability of our blog and what it’s taken to get there.
First off, you can make money blogging. In fact, here is a chart showing our monthly earnings for the past two years. For most of the second quarter of 2008 we’ve been averaging a bit more than $600 a month. 2006 and 2007 weren’t as good, but things have been picking up recently. Keep in mind that we didn’t focus greatly on income generation during the early days of blogging. Since we have made an effort in that area we have been rewarded for that effort.
However, No its not easy money. A lot of effort goes into making dinksfinance.com happen. For example, to generate a good posting can take up to three or four hours. Some research is involved, as well as drafting, edits and more edits. Additionally, being a blogger means that you have to develop some understanding of html coding, and learn the basics of search engine optimization. So a lot of time is spent on these types of infrastructure and accessibility issues.
There is a very low barrier to entry for bloggers. Starting a blog on Google’s blogspot or other platforms is essentially free. As a result there are hundreds of personal finance blogs. Now, from the standpoint of blogging as a business, this means there is a great deal of competition for readers. In addition, blogs are valued partially based on the number of other websites that link to them. Thus, we spend a pretty good amount of time trying to find legitimate means of getting other sites to link back to us. A lot of this is done by having good content, but it also requires a good amount of plain old fashioned work.
That said, finance blogging pays off in ways that are harder to measure. Blogging gives one a platform for discussing finances on a wider level. The commitment to a wider audience challenges you to go beyond what you might achieve otherwise. This commitment and intention towards creating abundance in our lives has dividends that are very hard to measure, but none-the-less affect the bottom line.
So, to wrap this up, there is some money in it, but you’ll also be committing yourself to two or three hours of blogging time a day, plus a great deal of other activities designed to promote and keep yourself ahead of the competition.
James & Miel